How to Dramatically Increase Your Credit Score in 2021

Updated credit score video: • How to Dramatically In...
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How to increase your credit score in 2021.
💳 See Sebby's Card Picks: www.asksebby.com/go/topcards
Timeline
0:00 Start Here
0:29 Why Does Credit Matter?
1:56 What Is Credit Score?
2:49 30-Day Credit Challenge
4:21 Why Credit Mix Is A Trap
5:13 Low Impact Factors
7:11 Medium Impact Factors
8:10 High Impact Factors
#CreditScore
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The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available
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[@AskSebby]

💪 [ 2023 Update ] 30-Day Credit Challenge is no longer available. New updated 2023 improve your credit video: kzbin.info/www/bejne/Y6TcgoZ7j6-Yjq8 💳 See Sebby's Card Picks: www.asksebby.com/go/topcards

[@emvee5321]

Hi Sebby! What should I do on the charge off accounts? They’re all closed but still showing past due balance. Thanks in advance!

[@theoperator9474]

That was a great video. 👍

[@staciramos6658]

Score is 530 and I think what's holding it back in late payments negative marks and collections closed acts and past/present utilization. How can you help?

[@staciramos6658]

@@emvee5321 did you ever get an answer?

[@IAMKESHIAB]

@@staciramos6658 Start By Bringing Your Accounts Up To Date

[@LooseJointhiphopdance]

I often watch your videos and have learned a lot. I went from not having a credit card more than a year ago to having my first card. a Discover It card. I recently got a credit increase about little more than a month ago and went from an initial $3,500.00 limit to a $6,0000.00 limit. I tried for a limit increase at about 8 months of having the card but was told I had to wait 1 year so I did. Kept my credit utilization around 12% and got accepted. I felt so accomplished Now I want to get my utilization down to under 5% before applying for my next card. Thank you Seby

[@betonblack3621]

I’m working on my 5 card rotation As we speak then I want to get it to 10 eventually

[@LiveLoveLaugh_44]

Congratulations sir

[@gtjovan]

💪🏾💪🏾

[@ericnorthman3063]

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair

[@ericnorthman3063]

@@betonblack3621 I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair

[@Cisco3750]

Most people focus on credit score, but your income is also another big factor. If you have high credit score but low income you'll have a hard time getting a loan as well.

[@TheEnphamus84]

facts bc this is my problem but not for long!

[@niamassey4100]

Omg why

[@curiosityredpill7030]

@@TheEnphamus84 true

[@milojayjay]

I think it’s more debt to income ratio. If your income is decent and you have no debt, you will be approved. Obviously they’re not gonna give you a loan that’s way out of your budget, you should consider if it’a smart to even do so.

[@06jsil]

I know people who make 30k a year and was able to get a 300k home because they had no debt, credit was 700+, and they had 20k down

[@soleilwhitton6397]

I just crossed the 750 credit score threshold. a few things to keep in mind: 1. Pay your minimum payment on time. 2. Stay away from store credit cards, the interest rates are killer and that little bill becomes a big bill when your sit down and add all of your debt up. 3. Make sure you have a credit card that is working for you (miles, points, cash back).

[@sweetlifeofHoney]

Chime credit builder helped me rebuild my score higgggh, like750 and i go and charge it up.... Omg but i did open a few cc's ...... But im going to work hard to get ot waaay back up again

[@sweetlifeofHoney]

Youch but my interest rates are sooo high

[@soleilwhitton6397]

@@sweetlifeofHoney If you are making your payments on time for 1 solid year, you can negotiate a lower interest rate. But do whatever you can to pay off your debt. When you owe someone, they take your financial future. You can make it without cc's.

[@VisualDisplay07]

What rappers didn't tell us about other people's money is how to make it work for us! I am adamant about miles, points, and cash back now more than ever and have a plan in place to ensure my monthly balance is under 10%. Mostly, it's not charging more than you know you have in cash to cover the expense. It's also having emergency savings so that your first inkling isn't to 'charge it' and worry about expense later. Without a CC, I discovered more resources for paying off past due amounts than I had when I defaulted to CCs to live. May we never be subject to the lender again, amen?

[@Lionheart_He-Man]

Correction on # 1 Pay your entire monthly balance….EVERY MONTH in full. There, fixed.

[@UnwanaUdoh]

This was awesome, thanks for sharing this 😀

[@abdjames1372]

This video answered a lot of my questions I had about credit cards. Great content

[@KonstantinosPoints]

Been in that situation where I had to live in a lesser place because of credit score. Its crazy how bad credit can affect you and in how many different ways! Great topic!

[@amyzieger5198]

well welcome to the real world sir! there's people from all walks of life with this problem. nd just because you have a lot of money, some of these people has bad credit too! they spend nothing but cash and will not take the responsibility to pay there debts either!!! Lets get with the program and the real world sir!!

[@lilliandadon9048]

@@amyzieger5198 their*

[@andreresto169]

Like how u explained things. Definitely gained knowledge from this video

[@mitchell.9632]

Part of credit mix could be the number of active cards in the last six months for FICO as well.

[@colinandmeg]

Thanks for this! Totally need to boost our score asap!

[@eclecticdementia]

Myfico forums representing!!! 🙌🏾🙌🏾🙌🏾🥳

[@antman674]

I was surprised by the inquies portion not being too bad. Because when i first started rebuilding my credit, my score would take a 40-60 point hit per inquiry. It made me pretty reluctant to apply for new cards. But now with my credit history built up, my score literally only dropped 1 point for my latest credit card application 👍

[@BrooklynCashmere]

Great tips! Appreciate the charts!

[@SocheathSim]

Awesome video.. thanks for all your help!

[@AskSebby]

Glad to help; look forward to seeing how high your score goes! :)

[@Nemo-un5rr]

Great video as always.

[@AnonymousGuy-ij3xi]

A really well, detailed and categorized explanation. I like the seriousness and answers to many questions, spoken so naturally. So I'm subscribing based on this and other videos.

[@raymarvelez]

Thank you for this refreshing video really highlighting the keys to credit

[@ShannaReneeCurry]

Excellent video...as always

[@AskSebby]

Thank you!

[@flexspec]

Love the videos. Been watching for years.

[@AskSebby]

Awesome! Thank you!

[@andreashosemann1319]

Awesome advice just subscribed to your channel 👍

[@gsawnv]

We paid off our mortgage and took a 100 point hit to our credit. This portion of the credit scoring system is broken.

[@gsawnv]

@The Tranquil Heart yes. Counterintuitive but true. The payment history, balance, etc vanishes when the loan is paid.

[@ericnorthman3063]

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair…

[@listeningviayoutube7229]

Terribly broken...Smh

[@so.many.obstacles]

Yeah I paid off a personal loan and took a hit. I’ll pay off my car note this year and I know the drop will come again.

[@liztaylor85139]

My house is paid for and I get a negative hit because I DON"T have a mortgage! WTH??? Same with my car. I have 3 payments left and when it's paid for? It will drop as well. It's just a way to keep you in-depth!

[@jimvanover]

Is anyone else shocked by the average US FICO of 711?

[@jac3744]

Yeah! i expected a lot lower.

[@kingznqueenztv]

More like 511…

[@listeningviayoutube7229]

Yes, I thought it would have been in the 500s or 600s.

[@timothyflemingphotography]

@@kingznqueenztv because most people like yourself focus on the lowest common denominator.

[@kingznqueenztv]

@@timothyflemingphotography Which is???

[@eaglesallday8o8]

Thank you for your article on the chase credit card rules, i just got approved for 2 in the same month!

[@Thecreditdoll]

Great info! Thanks

[@chunkafunk81]

thanks brother !

[@08breezy08]

thanks for the info.

[@ProStreetz1]

Awesome vid. Subbed. How do I find out when is picture day tho? I have no idea when they are going to check the balance of my cards. I usually just pay everything by the due date …

[@landocalrisian2014]

I've finally after 5 years, got all my scores above 790. I started in the 630s in 2017 and now my highest score is 807 and lowest 796. It was a slow but steady race and I definitely feel good at this point knowing I can get great rates on anything.

[@bayborn510]

how many credit cards did you have at a time?

[@landocalrisian2014]

@@bayborn510 I believe in 2017 I had roughly 3 cards. Two of them had low limits.

[@docsays]

great vid Sebby always good to get a refresher. been playing the utilization game, but no im going to try to manipulate my payment activity a bit more. thanks for the tip.

[@Busselld7]

I just watched your video on how to boost your credit score 100 points in 7 days and I liked the info about paying a card down to 2% to get an on time payment. I was going to pay down the balance to 30% or even paying it off but paying it down to 2% and getting the on time payment makes a lot of sense. Thanks Sebby!!!

[@rverma92]

Thanks for your videos 🙏🏾. Would be very interested in an updated hotel keeper card video, if you could work that into your queue. Thank you

[@theoperator9474]

Super informative.

[@laylamcdonald2752]

I'm learning so much from this channel. Awesome job

[@AskSebby]

Glad to hear it!

[@my1stlove130]

Wow look last month my credit score was 789 . This month Discover it statement 814. I feel so good, I’m helping my best friend build her credit now. Im so proud of myself, all self taught

[@ogadinma01]

Really great information 👍🏽 Thank you. I'll get ready before "picture day" 📸 😁

[@dustinstratton5357]

Always try to catch all your videos and have been trying to follow your tips. For some reason I've been stuck in the low to mid 600s for what seems forever

[@ericnorthman3063]

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

[@dustinstratton5357]

@@ericnorthman3063 naw I'm good

[@waterheaterservices]

Very good teacher

[@chrishoffman8600]

Usually, my score is in the lower 700s. But, right now I just moved/bought a house. I have had a ton of extra expenses, and my cards are loaded. So, my score is way down. It'll take me a little time, but I'll get them all paid off, unless something really bad happens! Score is around 648 now.

[@pacs0508]

At least you have a place to live and time to work on the other. Congratulations! 👏🏽🎉🎊🎈🏆🏡

[@chrishoffman8600]

@@pacs0508 Thanks much. Yeah I didn't end up where I wanted to be house wise, but should be good once can get settled in. It's unfortunate that I had to buy at the worst possible time. But, like you said....glad it all worked out. :)

[@rival989]

I thought the recovery period was 3 to 6 months, for your scores as long as you don't miss payments?

[@landocalrisian2014]

Think positive!! Congrats on the house. Your score will rebound.

[@Natasha-tc8oq]

new subscriber! want an amazing score this year!!

[@temp903]

Didn’t know about leaving a few dollars on the card so that the scheduled payment still goes through. Great tip! I’ll have to test that to see if it increases my score more.

[@liztaylor85139]

I thought the same. I thought paying them off every month was better. Now I know to leave a little balance on them. let's see how this works out. How did it work for you?

[@bilalhakeem8988]

Hi very good information thanks!

[@heavymechanic2]

My cards are in a rotation to use each card every 2-3 months, some report a small balance and others get paid before reported. My score is bumping along like stocks with a stable company. My utilization is an average of 1% reported and on occasion get a single card above 9% and see a dip in the score. This is whats working for me with revolving cards and an installment loan, all in good standing.

[@gurprasadsingh4792]

You are doing a great job

[@gabrielbutler3246]

thank you!

[@MAG320]

I started with a chime secured card & held it for 8-9months. I also started seeing card offers afterwards. Merrick Bank was the first & i never even heard of them. They gave me a $700 limit, waiting to double by august. Credit One shown up next, Avant, Aspire & Verve soon followed. 3 major milest later hit which was Discover, The Home Dept & Citi, adding $9,500 combined limit. The inquiries may be high & the history is low for now, but as long as you dont use the cards much & keep the payments low, your score will skyrocket. I hit more milestones than i could count adter having bad credit for so long. I thought i throw my hat in the ring.

[@papihuey]

My mom doesn’t even try to increase her score. She got 2 credit cards and the only reason she got them is bc she doesn’t want to use her debit on purchasing stuffs bc she’s afraid of getting her debit hacked. Her credit is like ~650 or something😕

[@gb3113]

Hey Sebby, I hit 800 credit score this year .. also got my first chase credit card.. Thank you for all your videos..

[@JacobKustra]

Great video! Honestly this is a great topic to redo as it does change yearly! I think credit is one of the best tools that everyone should know about, literally a credit score could make or break a person's opportunities! Not growing your score could literally cost you thousands, especially because of missing out on low APR rates or even loan acceptances! Keep up the great work as always Sebby!

[@AskSebby]

Totally agree!

[@JacobKustra]

@@AskSebby Hey! In case no one has asked yet, how's your day going today?

[@Jaeboy]

Hey @Sebby. Is your spreadsheet usable by people outside of US? Our credit score is managed by TU in my country.

[@dwalker6868]

Thank you

[@krillissues5175]

Having good Credit score is nice I built my credit score next from nothing from over a year so far I able get myself a car loan with ok interest rate

[@KivysAptApprovals]

Great video thank you so much. I will definitely use these tips, along with my documents from Fresh Documents, they boosted my credit like crazyyy lol

[@monicamolina2221]

This was so helpful. I loved this breakdown. Thank you fir your video.

[@travisretriever7473]

Knew I subbed to you for a damn good reason.

[@chrisp7110]

Yeah Landlords are shady with that because they don't need to but they like to bully you because they see you are new to the game. It is ridiculous on how many types of shady things are out there from landlords that you need to basically take them to court.

[@cryptocrack2682]

That's why it's usually better to own your own home.

[@maryernest3832]

great video

[@michaelvaldez9217]

sebby's great! currently at 680 with 24 cards, 30% utilization. also have my chase & amex trifectas thanks to your tips & videos. next to get my utilization back down to 10-15%

[@fperez222]

Hey Sebby. Would you be able to do comparison video or an opinion video on youtuber named The Credit Game? It would be interesting what your thoughts would be...especially on a video he has where you can cheat your way to an 800 score.

[@MrPresident_818]

Make a citi trifecta vs chase trifecta video for traveling

[@natalietitus3234]

Kids gots me in debt. So my 8,000 credit card debt(13 cards) is bad. I just bought a car so I got huge horrible interest rate. I picked up a part time gig to pay off my loans or at least half to bring up my score and refinance. Ty for these helpful tips.

[@samr6148]

Great, helpful information. Thanks!

[@joechombo8110]

Do you recommend us bank for credit cards???

[@MTV1995_]

The amex delta platinum has 90k sign up offer.. do you consider this a no brainer keeper card for domestic travel?!

[@sethlabiaux420]

As far as I know, the air force and navy check credit score as part of enlistment.

[@nobreathing0244]

Hey Sebby! Can you look into the Self Visa Card? I can't tell if this is a scam or not for building credit.

[@e870252314]

Nice hat in the end lol

[@stedye]

Very informative. If I am near the 750 mark, if I lease a car , how much will leasing drop my score if I am at 750?

[@stelliumX5]

Video right on time!!

[@AnnaBanana3355]

Do you pay ON the day of the closing date or a day BEFORE the closing date?

[@GhostRat__]

I bought 2 beds under a lease. Then bought my wife's 1500 and 1800 dollar ring. Then rented for a year Then leased out my phones and tv. My cscore is bonkers

[@TheTubeMeister]

Whats weird is I applied for the American Express Cobalt card back in March. My score updated yesterday and it jumped 17 points. It never dropped at all since I applied. Typically it should drop after an application. But, I’m not complaining lol. What I’ve found over the years is that UTILIZATION is KEY! Keep it low if you can. Pay your bill super early.

[@danielledickerson9732]

Thanks

[@avres13]

Does chase 5/24 apply to authorized users the moment you were added or when that card was originally opened?

[@euge.sosa.b]

Question: is it ok to pay your bill early or should it be paid on the due date (my boyfriend insists on the latter), also what happens if you don't use the card at all?

[@demsouthalls]

Excellent 850 breakdown

[@honglytech]

How different is it by not having a credit card to buy a house?

[@DarknessFalls29]

Holdback: over 90% utilization.

[@alexanderfigueroa3920]

My credit score took a big hit recently because I bought a house and my student loans reflected my credit score at the same time. Im trying to get it back up to the 700s, but im stuck in the 650’s

[@MsSweetE]

I would love some advice, I have two accounts that I close because I couldnt make payments. I’ll since paid them off but they are affecting my CS because of the late payments. Should I dispute and have they taking off my credit report? They are ones of my oldest CC.

[@antoniocruz1163]

thanks

[@jeremymoore450]

Sebastian, Been a long time followers of your channel. It has gotten so much better over the years. I loved this video and it was such an informative way to explain so much on the credit cards. I loved this thank you for taking the time. I had to figure out the same stuff for utilization and payments. I am rebuilding my credit now. In almost 5 years I am at 670 to 680 ish. I was at like 500 something after bankruptcy. I cleaned up my credit and have consistent with credit cards. I have some secured cards to help me and All cards I have are pretty good. Not like what you have but I am trying to prove now that my credit is better and now I am gardening for the most part. Love the videos hope to see more like this. Maybe some secured cards review and what you think and how much we should put down etc. Appreciate it.

[@TheLogan-ir6di]

I work with people and their credit history every day, and almost NEVER see a score over 650.

[@ericnorthman3063]

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

[@bell5020]

What do you think about consolidation

[@heprovides5604]

As always, great content

[@leemcmullan]

HAHAHAHHA "why am I wearing this hat?" THAT WAS BRILLIANT

[@dricoirving3236]

The single biggest thing I heard u say when I first started to follow you was pay your card before the due date🙏🏽🙏🏽 that's kept my utilization low and helped my scores increase

[@coachang2573]

How many days before the due date was suggested? (Thanks in advance😉)

[@caitlynnhamilton8016]

@@coachang2573 i would also like to know

[@marisoljesus9862]

How many days before the due date?

[@JaeBTundra1]

The big thing is paying more before the report date

[@AnnaBanana3355]

@@JaeBTundra1 when's the report date? Is that the same as the closing statement date?

[@nadertawfik7178]

Is it good to apply fir credit card before getting a mortgage

[@billycarroll284]

Firstly May I compliment you on your very on air quality and your professional on air gestures ! Your advise is very to point and communicative ! Will continue with eager all your video’s ! BillyCarroll

[@rabelothi]

What's your opinion about Debt Relief Program?

[@m68cs15]

thank u

[@patsyplamer2898]

Morning Sébastien ❤️ my CS stuck at 739, keep looseing or gaining 1point not moving forward?

[@KindSir]

Hey Sebby great video! I have a followup question . I don’t know what is better to keep 1-2% utilization or 0% I currently always keep mine at 0 and pay it off before the due date, and I notice my score doesn’t really change. Should I start keeping a few dollars across my cards so that I can have some utilization?

[@darrenhilton9402]

Great question.

[@JUAN75001]

your score never goes up because you keep it at 0% when the due date comes. You have to leave it at least 1% on the card every month so it can show the CC Company you are responsible and your score will skyrocket to 850 ! Good luck Brother !

[@JUAN75001]

@@darrenhilton9402 your score never goes up because you keep it at 0% when the due date comes. You have to leave it at least 1% on the card every month so it can show the CC Company you are responsible and your score will skyrocket to 850 ! Good luck Brother !

[@KindSir]

@@JUAN75001 Thanks Juan, I have one followup question is this 1% for each card? or just universally accross all cards have at least 1%?

[@JUAN75001]

@@KindSir 1% across ALL cards.

[@user-fz6nx7js7d]

Very true

[@DoorDashers791]

Plus they tell you a credit score has nothing to do with anything

[@johniii8147]

Jab at Dave Ramsey..love it

[@Pradee455]

i set up pre authorized payment arrangements with my credit cards and utility accounts whenever i can. Is it acceptable or paying as early as possible is better? thank you in advance .

[@davidsteckley8846]

Actually scores don't matter much above a 750 if your not going for a mortgage or an auto loan. Just make sure you balance under 10% before you need a big purchase for a home or mortgage. Once they all report that zero balance, the next month your scores are up

[@Nofacenocase1619]

What about for a personal loan or a business loan for cash???

[@asilva5021]

The propeller hat helped

[@JayG_]

Another quality video with good information. As some who has made a career in the financial sector for close to twenty years, I appreciate people like you with a platform trying to educate individuals on credit. Doing it for free on KZbin, and only charging eight bucks for your boot-camp shows your heart is in the right place. I find it astounding that personal financial management and credit isn’t a standard class in our formal education system.

[@AskSebby]

Thank you! I appreciate that :)

[@DoorDashers791]

I noticed that when my credit score hit 850 I get denied instantly..the denial letter said low credit card usage. To many hard inquires which is 2 mortgage inquires..